Axle Energy, a startup developing technology described as “virtual wires” has announced its raise of $1.6m (£1.3m) in pre-seed capital.
When charging devices such as EVs, the startup’s API adapts depending on when electricity is cheaper and more environmentally friendly.
Flexible charging could help OEMs and energy providers with managing the capacity of their services, in turn easing pressure on the overall grid
Karl Bach, co-founder of Axle Energy, said: “The energy crisis has exposed the climate, cost, and dependency risks stemming from our dependence on fossil fuels.
“The time to decarbonise is now, and that requires a connected, dynamic, flexible grid, not the monolith we have today.”
Before co-founding Axle Energy, Bach was the head of growth for the collapsed energy company Bulb, which was taken over by Octopus Energy.
Co-founder Archy de Berker brings experience from time as data and product head at CarbonChain.
Headquartered in London, Axle Energy said flexibly charging EVs may have the potential to remove the UK’s biggest gas power plant before 2030.
Sebastian Schäfer, partner at Picus Capital, said: “Karl and Archy bring the experience and vision to build the electricity system we need for the 21st century.”
Picus Capital led Axle Energy’s pre-seed, with a minority backing from Eka Ventures.
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